Luxury car maker Ferrari is expected to price its initial public offering as high as USD 53 a share, CNBC learned on Tuesday according to sources familiar with the matter.
The company said it will be price officially after the market close on Tuesday.
According to the sources, the demand for shares was "well oversubscribed." The company has been planning its trading debut for Wednesday.
The Ferrari family owns 10 percent; Fiat Chrysler owns the remaining 80 percent, but after the IPO, Fiat Chrysler shareholders will be given the remaining Ferrari shares to split the luxury car manufacturer from its parent company.
The IPO comes just one week after Wal-Mart's market-shaking news caused another company to postpone its own offering amid negative pricing pressure and another to come public below its price range.
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